Mueller Water Products (MWA) FY2014 results: revenue $1.2 billion, up 5.7% on the year
Mueller Water Products, Inc. (MWA) reported revenue of $1.2 billion for fiscal 2014, the year ended 30 September 2014, up 5.7% on the year before. Net income was $56 million, up 36.0%, and diluted earnings per share $0.34. The figures are the company's own, from the 10-K it filed with the SEC on 26 November 2014.
Revenue
$1.2 billion
+5.7% on the year
FY2009FY2014
Operating margin
10.5%
8.7% a year earlier
FY2009FY2014
Net income
$56 million
+36.0% on the year
FY2009FY2014
Diluted EPS
$0.34
+36.0% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,185
1,121
1,024
+5.7%
Cost of revenue
837
808
753
+3.6%
Gross profit
348
313
271
+11.1%
Gross margin
29.4%
27.9%
26.5%
Research and development
14.4
14.8
12.7
-2.7%
Selling, general and administrative
221
214
204
+2.9%
Operating income
124
97.3
64.1
+27.5%
Operating margin
10.5%
8.7%
6.3%
Interest expense
50.0
52.0
60.2
-3.8%
Pre-tax income
73.5
44.2
2.7
+66.3%
Income tax
18.0
8.8
7.9
+104.5%
Effective tax rate
24.5%
19.9%
292.6%
Net income
55.5
40.8
-108
+36.0%
Net margin
4.7%
3.6%
-10.6%
Diluted EPS
$0.34
$0.25
-$0.69
+36.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
148
109
33.5
+35.2%
Capital expenditure
36.9
35.6
31.4
+3.7%
Free cash flow
111
73.6
2.1
+50.4%
Free cash flow margin
9.3%
6.6%
0.2%
Depreciation and amortisation
56.7
59.2
60.6
-4.2%
Share-based compensation
8.6
7.1
5.1
+21.1%
Buybacks
0.0
0.0
n/a
Dividends paid
11.2
11.0
11.0
+1.8%
Dividend per share
$0.07
$0.07
$0.00
0.0%
Diluted shares, weighted
162m
160m
156m
+1.2%
Shares outstanding at period end
160m
158m
157m
+1.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
350
328
231
+6.6%
Non-controlling interest
1.6
0.0
n/a
Debt
546
601
623
-9.2%
Other liabilities
415
353
387
+17.7%
Total liabilities and equity
1,312
1,282
1,241
+2.4%
Fixed assets
146
142
138
+3.1%
Goodwill
5.4
0.0
0.0
Intangible assets
534
553
580
-3.5%
Cash and equivalents
161
124
83.0
+30.3%
Receivables
182
164
166
+10.7%
Inventory
198
208
183
-5.0%
Other assets
86.0
90.3
90.2
-4.8%
Total assets
1,312
1,282
1,241
+2.4%
10-K for the year ended 30 September 2014, filed 26 November 2014: the filing.